The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-23
Good Effects Of the Circular.
Offer Of the Treasury Department
Readily "Caught On" To.
Over Three Million Dollars Placed
Upen the Market
Yesterdays Purchases Relieves the
surplus Of $3,49i,7O0.
Action OF the Government Highly
Commended by finauciers-
eI4,O0O,OeO worth 10
be bought.

WASHINGTON, September o. The
circular which was published this
morning Offering to purchase $l4, ,0O0,.
600 Of and A per cent. bonds
WAS printed at the Treasury Depart.
ment and distributed this aft
ernoon. The eff ct Of the publication
was made instantly apparent at the de-
partment by the receipt Of offers to
sell within short time after the doors
OF the department had been opened.
The result OF the offerings and the
action Of the department upon them
was made public as soon after 3 o'clock
this afternoon as the schedules were
prepared. Acting Secretary Thompson
was at the White House and the
Treasury Department last night until
after midnight, consulting with the
President and the financial officers Of
the treasury relative 10 the prices to be
offered, the amount Of bonds to be
purchased, aud other details Of the
new plan for releasing some Of the
treasury surplus. Several OF the
treasury officers are Of the opinion
that after the first f,w days there will
10. be any considerable amount Of
bonds offered to the government, but
the moral effect Of tue circular they
believe will be good, ss the knowledge
that the government stands ready TO
purchase Sl4,000,000 worth Of bond
and throw that amount OF money upon
the market, will, they cay, tend TO 70.
assure timid tinanciers.
RxsULT OF TuK CIRCULAR.
The result of the cllcu ar issued 10.
day by the Treasurer, Offering 70 huy
Al snd 4 per cent bonds at los 10
aI d l26 respectively, vas awaited with
appreb ension by the department
Throughout the day propoia's 10 sell
came In at Intervals, but they we're
for small amounts, and it was with
evident disappointment that the an
nouncement was made shortly after
O'Clock that the aggregate Of the offers
al the prices fixed by the department
was but s674,7O0. That the propohl.
ton TO purchase the per cent. bonds
at l25 was lot generally regarded % au
inducement was inferred from the
small offerines-S4S0,000 OF these
bonds. But IL appears that the tenn
per OF sellers had been mitcAlculated.
for later In the day, and aiter the q ct
announcement, additional tenders
were received TO the amount OF s2,-
SO 0Co, Of which S500,000 were A,
q ID s.. $4,000 per cent bonds. Thie
raised the total al the days purchase
to 1884, ,7CO, Including 1884, 200 A,
and g. 100000 4 per cent. bonds.
Taking into consideration the
fact that the circular wa, Issued
today, aud the public bad not fairly
time TO become acquainted with Ito
terme, the hoancial officers OF the
Treasury are pleased with the result.
II was deemed best not 10 make pub.
lie today the names OF the persona and
arms VINO sold bonds 10 the govern.
ment, and II is probable that this In.
formation will not be furnished here
after. Daring the day many kilograms
we're received at the Department ask.
lug whether bond8 can be oifered 10
the Assistant Treasurer q, NcF York
and be paid for ~ provided In the CIR.
cular. THIS afternoon Ac.ing secre
tary Thompson author Z,d lhe ate
ment that the ohefB must be msde 10
the Treasury ID psrtmatt at washing.
ton and tire NJ isiGBt treAsnrers will
pay fer the bonds purcaa.ed.
GIN. BAKKs's ACCOUNTS.
A special examiner Of the Depart.
ment OF Justice is nov making an ex-
animation OF the accounts oi Gen. N.
p. BanHs, United States Mushal at
Boston. At the department OF Justice
there is no knowledge a any wrong
doing on the part OF the Marshal. lie
has been very delinquent Ia sending
IN his accounte, and for this reason
there is a large sum Of money unac.
coun'ed for. This sum, II Ia said at
the department, will undou Jtedly DO
largely diminished, II not entirely &C
counted for, when the formal reports
are received.
EDUCATION or TIE INDIAN.
In q letter sent TO Gen. Clinton b.
Fiske, Commissioner Of IndiAn Aiialrs
Atkins says tie Indian Bureau does
not intend 10 recede from iis poaillon,
that no language but the English shall
be taught In Indian ichoolt, noiwith.
standing the opposition manifested
against the order. Tie letter states